BUSINESS

Petroleum trade union and consumers say the fuel station owners are directly responsible for the shortage of fuel and requested the government to launch an investigation. The National Movement for Protection of Consumer Rights says the fuel station owners fearing that the price of petrol and diesel will be reduced …

Despite significant challenges, Sri Lanka’s economic performance remained broadly satisfactory in the first half of 2017and the Economic Growth is expected to reach 4.6 percent in 2017 and increase marginally over 5.0 percent beyond, driven by private consumption and investment growth, a World Bank report released Wednesday says. The World …

SML Frontier Automotive, sole agents of Jaguar and Land Rover (JLR) in Sri Lanka launches their customer loyalty programme, The Jaguar and Land Rover Owners Clubs, which ensures customers receive a variety of benefits and exclusive privileges when they purchase a Jaguar or Land Rover vehicle. When customers purchase a …

The Cabinet yesterday decided to absorb the debts incurred by Mihin Lanka, which is expected to be liquidated soon. It was disclosed at the Cabinet meeting that the airline launched by the previous regime owed Rs.4,860 million to the People’s Bank and Rs.1,700 million to the national carrier, SriLankan airlines. …

Toddy tapping from Coconut and Palmyrah trees has been brought under license with amendment proposed to Section 15 of the Excise Ordinance (Chapter 52) by the Ministry of Finance and Mass Media. Cabinet approval has been granted for this amendment. Though the license is required for toddy tapping under the …

The Primary Industries Ministry and the National Savings Bank are holding a pepper plant distribution at NSB branches island wide today to coincide with World Thrift Day. Minister Daya Gamage was the chief guest at its commencement at the NSB head office at Kollupitiya, also attended by the bank’s chairman …

Finance and Media Minister Mangala Samaraweera yesterday said that the government was negotiating three important trade agreements with India, China, and Singapore to gain further market access for exports. When this process concluded in a fruitful manner, our exports would have duty free access to 2.5 billion people in this …

A four-member delegation from the European Parliament, led by MEP Jean Lambert, will visit Sri Lanka this week, the Delegation of the European Union to Sri Lanka and the Maldives in Colombo announced. The delegation will meet government and civil society representatives to discuss Sri Lanka’s progress on national reconciliation …

The 45th Annual Sessions of the International Pepper Community Conference was inaugurated by president Maithripala Sirisena at Earl’s Regency Hotel in Kandy today (30). Minister of primary industries Daya Gamage was the guest of honour at the three-day conference. A pepper and spice exhibition was also opened, while winners of …

The government is committed to introduce a cost-reflective pricing formula for fuel and electricity by next year, Central Bank Governor Dr. Indrajit Coomaraswamy said. “The government is now committed under the structural benchmarks of the IMF to introduce a pricing formula for fuel in March and a pricing formula for …